Illinois Real Estate Exam Practice Question
An Illinois licensee is showing one of the houses they have listed to a prospective buyer. Prior to entering into negotiations with the buyer, the broker must disclose
Correct Answer: B
Rationale: In Illinois, brokers are required to disclose material defects that could affect a buyer's decision. Option B, foundation leaks during heavy rain, is a significant issue that directly impacts the property's value and safety, making it essential for the broker to disclose.
Option A, seller has AIDS, is protected under privacy laws and does not affect the property's physical condition. Option C, the price the seller paid, is not relevant to the buyer's assessment of the property. Option D, while potentially concerning, is not mandated for disclosure unless it affects the property's condition or value. Thus, only option B represents a material defect requiring disclosure.
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